A Good Year for Niagara Prices

Contrary to expert predictions, 2009 proved to be a good year for real estate in Niagara. All the dire forecasts about the average sale price falling to levels of 10% or more turned out to be totally unfounded.

Here is the inside scoop on average sale prices per city in the Niagara Region for the 2009 compared to 2008:

 

 Niagara

Average Sale Price

%'age

Change

2009

2008

Markets

12 Month

12 Month

12 Month

NOL

$385,795

$415,856

-7.23%

Niagara Falls

$205,410

$198,973

3.24%

Fort Erie

$183,655

$181,351

1.27%

St. Catharines

$206,326

$207,085

-0.37%

Thorold

$191,112

$193,237

-1.10%

Pelham/Fonthill

$306,845

$295,179

3.95%

Welland

$175,703

$168,700

4.15%

Port/Wainfleet

$181,971

$176,951

2.84%

Linc/West Linc

$273,858

$273,138

0.26%

 (Source: Niagara Association of REALTORS®
MLS ® Statistic Report
, DECEMBER 2009)

Out of the nine markets only three had a negative change in the average sale price: Niagara-on-the-Lake at -7.23%; St. Catharines at a negligible -.37% and Thorold at -1.1%. All others are in positive territory with Welland showing an increase of +4.15% and Niagara Falls at +3.24%.

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